Sentimental Analysis: Bitcoin Rising From Neutral to Positive


crypto market

Sentimental Analysis: Bitcoin Rising From Neutral to Positive

Cryptocurrencies are in a very difficult territory where no fundamental or technical indicators is actually affecting the price than the sentiment of the community. Every news article or a social mention is actually driving the trend and direction of where the prices are heading. Although most of the sentiment is derived from the sentiment of the Bitcoin- the largest cryptocurrency, still some altcoins have their specific pros and cons that change their variance from that of Bitcoin. Let’s look at the few indicators that are used widely across to determine the sentiment.

Bitcoin Sentimental Analysis

As mentioned it’s the largest coin in the market that decides most of the trend for the crypto markets is necessary to understand that sentiment it garners among the community. A lot of news flow and sell off has dampened the short term sentiment but yes there are some long-term positives which make Bitcoin an interesting study. An analysis of its social mention and greed and fear index would give us a clear idea of what is happening

Analysis Type Tool Analysis- Score Sentiment
#BTC – Hashtag Analysis Keyhole Score: 92

Positives: 55.7 %

Negative: 2.2%

Neutral- 42.1%

Neutral to Positive – Positives rising
#BTC- Social Media Mentions Social Mention Sentiment 3:1 in favor of positives

With 50 scores towards neutral and 16 in favor of Positives

Neutral to Positive
Fear to Greed Index Alternative.me Score 58–Greed Positive
Fear to Greed Index CNN Money Score 65-Greed Positive

 

Well, Bitcoin has reclaimed the USD 4000 mark with some positive sentiment which has been building in since last week. With no major hiccups reported or insight in the near future, the coin is expected to remain the positive territory only. All sentimental tools seem to be showing a positive curve with a bit of neutrality as many on the street believe that the coin me soon get into consolidation and may hover around the USD 4000 range in the coming week.

Altcoin Sentimental Analysis

Fear and Greed index is only available for BTC as not may altcoins have all components required to calculate it

Altcoin Keyhole #  analysis Social Mention Sentiment
ETH- Ethereum Score – 87

37.2% Positive

3.4% Negative

59.4%- Neutral

10:0 towards Positives

Neutral 5

Positive to Neutral- Positive rising
XRP- Ripple Score 85

23.7% Positive

5.6% Negative

70.7% neutral

11:1 towards Positives

Neutral 103

Positive to Neutral, Positives rising
BCH- Bitcoin Cash Score 82

33.0 % Positive

5.6% Negative

61.4% Neutral

11:1 towards positives

Neutral 102

Positive to Neutral-

Positives rising

EOS Score 85

26.2% Positive

1.9% Negative

71.9%- Neutral

0:1 towards positives

Neutral 11

Neutral with a negative bias
XLM-Stellar Score 90

47.4% Positive

1.9% Negative

50.7% Neutral

11:1 towards positives

Neutral 148

Positive to Neutral-

Positives rising

 

All Altcoins seem to be following the path of Bitcoin, as most of them have stuck to the green territory. Ethereum seems to be moving further upward with positivity building in. So seems to be the case with BCH and XLM. There has been a lot of buzz around XRP which make bring the prices up for the coin while there has been no reaction on EOS.

Will this sentiment actually pull back the prices? Do let us know your views on the same.

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Sentimental Analysis for Cryptocurrencies- March 17
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Sentimental Analysis for Cryptocurrencies- March 17
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Cryptocurrencies are in a very difficult territory where no fundamental or technical indicators is actually affecting the price than the sentiment of the community. Every news article or a social mention is actually driving the trend and direction of where the prices are heading to. Although most of the sentiment is derived from the sentiment of the Bitcoin- the largest cryptocurrency, still some altcoins have their specific pros and cons that change their variance from that of Bitcoin. Let's look at the few indicators that are used widely across to determine the sentiment.
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Disclaimer The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Author: Nilesh Maurya

Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.

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Nilesh Maurya 679 Articles

Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.

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